Rules and regulations promulgated by the U.S. Securities and Exchange Commission and various self-regulatory organizations (e.g., New York Stock Exchange) typically require issuers of publicly traded securities to distribute certain information to the ultimate beneficial owners of their securities. Such information typically includes notices of shareholder meetings and proxy statements that contain proposals to be voted upon by shareholders. In this regard, institutional shareholders commonly hold securities through at least one, but typically several, custodians in “street” name (institutional shareholders use more than one custodian for purposes including asset protection and/or a means of managing services and fees).
Various mechanisms for information distribution and voting have been proposed. Examples include the mechanisms described in the following U.S. patent documents.
U.S. Pat. No. 5,671,358 relates to a system for voting stock component interests.
More particularly, this patent relates to a data processing system for processing the voting of partial stock interests via equity and options, comprising computer means for determining and storing component factors for equity and for calculating and storing component factors for options and vote component factors corresponding to each of said component factors for options, wherein each said vote component factor is indicative of the right to receive a partial vote attributed to each of said component factors for options, wherein said component factors for options are at least two of: (i) a component interest indicative of the right to receive a partial share of stock equal in value to a stipulated price or a full share of stock of the company on a predetermined future date, whichever is the lesser value; (ii) a component interest indicative of the right to receive a partial share of stock equal in value to the appreciation, if any, of the share of stock above the stipulated price on the predetermined date; (iii) a component interest indicative of the right to receive substitute payments equal in amount to dividends declared with respect to a given date which is prior to the predetermined future date and which goes to zero value at the predetermined future date.
U.S. Pat. No. 5,758,097 relates to a system for voting stock component interests. More particularly, this patent relates to a data processing system for processing the voting of partial stock interests via equity components comprising computer means for calculating and storing component factors for equity component interests and vote component factors corresponding to each of said component factors, wherein each said vote component factor is indicative of the right to receive a partial vote attributed to each of said equity component factors, wherein said equity component factors are at least two of: (i) a component interest indicative of the right to receive a partial share of stock equal in value to a stipulated price or a fall share of stock of the company on a predetermined future date, whichever is the lesser value; (ii) a component interest indicative of the right to receive a partial share of stock equal in value to the appreciation, if any, of the share of stock above the stipulated price on the predetermined date; and (iii) a component interest indicative of the right to receive substitute payments equal in amount to dividends declared with respect to a given date which is prior to the predetermined future date and which goes to zero value at the predetermined future date.
U.S. Pat. No. 5,819,271 relates to a corporate information communication and delivery system and method including entitlable hypertext links. More particularly, this patent relates to an integrated computer-implemented corporate information delivery system. A database stores research reports produced by and received electronically from brokerage firms. Authorization information specifies who is authorized to access each research reports. The database also stores corporate information about a number of corporations. Each item of corporate information is produced by and received electronically from one of the corporations about that corporation. Authorization information specifies who is authorized to access each item of corporate information. A research delivery module allows a user to submit a query and receive query results listing research reports and corporate information satisfying the query and that the user is authorized to access. A corporate register module outputs corporate information, the corporate information output according to a common format. The corporate information may be distributed via the Internet.
U.S. Pat. No. 5,864,871 relates to an information delivery system and method including on-line entitlements. More particularly, this patent relates to an integrated computer-implemented corporate information delivery system. A database stores research reports produced by and received electronically from brokerage firms. The database also stores corporate information about a number of corporations. Each item of corporate information is produced by and received electronically from one of the corporations about that corporation. Authorization information (“entitlements”) specifies who is authorized to access each research report or item of corporate information. An entitlement subsystem allows the contributor of the research report or item of corporate information to dynamically change, on-line, the entitlement status of any or all users/subscribers. A research delivery module allows a user to submit a query and receive query results listing research reports and corporate information satisfying the query and that the user is authorized to access. A corporate register module outputs corporate information, the corporate information output according to a common format. The corporate information may be distributed via the Internet.
U.S. Pat. No. 6,341,290 relates to a method and system for automating the communication of business information. More particularly, this patent relates to a system comprising a server operable to capture business information from a plurality of sources, capture distribution information associated with the business information, integrate the captured information in a standardized format, and display the captured information. The system also comprises a database operable to communicate with the server. The database is operable to store the captured information and communicate the captured information to the server.
U.S. Pat. No. 6,865,543 relates to a vote certification, validation and verification method and apparatus. More particularly, this patent relates to an election apparatus for voter certification, validation and verification of voting, providing a voting device for receiving from a voter a vote for at least one ballot selection in an election and a generator that provides a voter validation receipt bearing a voter validation number containing indicia of the voter and a report of the voting by the voter. An accessor responsive to the voter validation number enables the voter to validate the vote by comparing a report of the vote with an election result tabulated by a vote tabulation center. An election method is disclosed for voters to certify, validate, and verify votes tabulated by a vote tabulation center.
U.S. Patent Application 20010034680 relates to a system and method for online delivery of investor documents and tabulation and processing certain investor instructions. More particularly, this application relates to a system for online delivery of documents to Investors, and for receiving voting or tendering instructions from investors including an E-broker system with a database that sends information to and receives information from an Investor through an investor system. The system also includes an electronic dissemination and tabulation system (“EDT”) for securely delivering information directly to or receiving information directly from the investor system in response to an Investor request sent via the E-broker system. Furthermore, the EDT system sends information to the investor system in correspondence to stock holdings of the Investor as recorded in the E-broker system.
U.S. Patent Application 20010037234 relates to a method and apparatus for determining a voting result using a communications network. More particularly, this application relates to sending consent email messages to each of the potential voters that may vote to determine the result of the voting decision. The consent email message includes a hyperlink (URL) to a consent website, where potential voters can access the consent website to provide consent information. Once the consent information for the potential voters has been gathered, a set of eligible voters is determined from the potential voters based on those which provided consent information. The consent information can include consent to receive electronic information regarding the voting decision as well as consent to vote electronically. Based on the set of eligible voters determined, a second email message is sent to each of these eligible voters, where the second email message provides notification of a voting website to these eligible voters. When the eligible voters access the voting website, their identity is validated, and voting information is collected from those eligible voters who consented to vote electronically. Additionally, the voting website may provide the links to the electronic format information corresponding to the voting issue. When an eligible voter casts his/her vote, the voting information provided in the vote is compiled to determine the final voting decision. Compilation may include storing the voting information in a database, and may also include generating and sending transfer agent email messages that provide the voting information to a transfer agent that is responsible for tallying all of the votes that are cast.
U.S. Patent Application 20020082907 relates to a method for conducting a shareholders meeting with remote participation using a network. More particularly, this application relates to a method for conducting a shareholders meeting when shareholders can participate in the shareholders meeting through a network without having to actually go to the meeting hall of the shareholders meeting. Remote shareholders are assigned to satellite sites in order to spread the processing load among the satellite sites. Among the meeting site, satellite sites, and remote shareholder sites of the sponsoring company, votes from remote shareholders sites are tabulated on the satellite sites and sent to the meeting site.
U.S. Patent Application 20030055719 relates to remote participation and voting in a meeting. More particularly, a system and method for non-attending members of a group to remotely participate in a voting meeting through a network such as the Internet is provided. The system includes authentication, broadcast and voting computers which work together to authenticate the online members, broadcast the meeting to the authenticated members, and receive votes from the authenticated online members.
Among those benefits and improvements that have been disclosed, other objects and advantages of this invention will become apparent from the following description taken in conjunction with the accompanying figures. The figures constitute a part of this specification and include illustrative embodiments of the present invention and illustrate various objects and features thereof.